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RISING UNEMPLOYMENT MASKS UNHAPPY WORKERS

RISING UNEMPLOYMENT MASKS UNHAPPY WORKERS

Charles Logan, Director at the leading recruiting expert Hays, comments on today’s unemployment figures from the Office of National Statistics:

“Rising unemployment figures aren’t a surprise to anyone given the unease and challenging conditions that we are still faced with in the UK. Confidence to recruit is low and there is a lot of scrutiny over all hiring decisions – whether in the public or private sector. We are still at a stage where companies are replacing people who leave, but the creation of new jobs remains quite scarce.

An increase in youth unemployment is yet another worrying sign of our economic instability. It is difficult for companies to continue to invest in the next generation of workers when resources are so stretched and there is talk of a double dip, but it is critical if we are to avoid a generation out of work and skill shortages further down the line. Graduates have an important part to play in developing their skills to move their career forward and ensure they have the skills and relevant experience employers will want in the future.

Sadly, it also seems that the high unemployment levels are masking the true situation in the nation’s workplaces. Research we have launched today shows that two-thirds (67%) of Britain’s workers would move on if they could find a better job. This shows the dual impact of the recent challenging climate and just how stretched and unhappy many workers are – even if they are fortunate enough to be employed.

Whilst many employers are constrained by budget cuts, not only do they need to consider where their skills are coming from but how they can retain their most talented and experienced people. Around a third of people are only staying with their current employer because they are uncomfortable moving on in the current uncertain economic environment. It has long been documented how an engaged workforce is more productive. The research also finds that people aged 35-44 are the most likely to switch jobs (64%) if they are offered a more attractive role, with older people aged 45-54 least likely to move jobs (31%). It highlights that older candidates are less confident to look for a new job because they perceive a greater risk. But no matter what their age or where they live people should find out what the actual situation is so they can make an informed decision about whether or not it is a good time to move. 

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